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Questions and Answers
What is the primary function of an online platform in the context of business transactions?
An online platform serves as a place where demand and supply meet electronically.
In a B2B transaction, which parties are typically involved?
B2B transactions typically involve businesses such as manufacturers, wholesalers, and retailers.
What is the significance of a credit note in business transactions?
A credit note reduces the amount owed to a supplier by the buyer.
Explain what ACH payment refers to in the context of electronic transactions.
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Describe the California Redemption Value (CRV) and its purpose.
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What does B2B stand for and give an example of its application?
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In what way does a pallet facilitate the delivery of products?
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What is a credit application and why is it important for businesses?
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Define ACH payment and mention its significance in modern transactions.
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What is an open balance and why do businesses track it?
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Study Notes
Online Platform
- A place where buyers and sellers connect electronically.
B2B
- Stands for Business-to-Business
- Describes transactions between businesses, such as manufacturers, wholesalers, and retailers.
Brodline
- Refers to companies that deal in large quantities of various products.
- They typically offer a wide range of merchandise categories.
Pallet
- Represents a bulk quantity of a particular product.
- These products are arranged and delivered on a pallet.
Credit Note
- A financial document issued by suppliers to reduce the amount owed by buyers.
Open Balance
- The total value of outstanding invoices or credit notes.
Payment Methods
- CC: Credit Card
- COD: Cash on Delivery
Credit Application
- A form or online e-form used to collect information about a potential customer's creditworthiness.
ACH Payment
- An electronic payment made from one bank account to another.
10% Bank Authorization
- An adjustment made for weight discrepancies, where only the amount in the invoice is deducted.
CRV (US)
- Stands for California Redemption Value, also known as California Refund Value.
- A regulatory fee paid on recyclable beverage containers in California.
- The CRV refund is: 5 cents for containers less than 24 ounces, 10 cents for containers 24 ounces or larger.
Online Platform
- A digital space where businesses can connect to buy or sell goods or services.
B2B
- Stands for "Business-to-Business."
- Describes transactions between different businesses, like a manufacturer and wholesaler.
Brodline
- A company that focuses on selling large quantities of different products.
Pallet
- A large quantity of a specific product that is delivered on a pallet.
Credit Note
- Document issued by suppliers to reduce the amount owed to them by buyers.
Open Balance
- Represents all outstanding invoices or credit notes.
Payment Methods
- CC: Credit card.
- COD: Cash on delivery.
Credit Application
- A form used by businesses to assess a potential customer's creditworthiness.
ACH Payment
- Electronic payment made directly from one bank account to another.
10% Bank Authorization
- A process to adjust weight discrepancies where only the invoiced amount is deducted.
CRV (California Redemption Value)
- A regulatory fee paid on recyclable beverage containers in California.
- Refunds are: 5 cents for containers under 24 ounces, and 10 cents for containers 24 ounces or larger.
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Description
Test your knowledge on key concepts in B2B transactions and online platforms. This quiz covers topics such as credit notes, payment methods, and product handling. Evaluate your understanding of purchasing and sales processes within the business environment.
